The maker of Oven Pride and own-label cleaning products for supermarkets has warned it expects to sink to a first-half loss as it battles to offset soaring prices due to the supply chain crisis.
Manchester-based McBride said raw material and packaging prices have ramped up faster than expected, while freight and distribution costs have also risen far higher than predicted and show no sign of slowing.
The listed company is launching a second round of "substantial" price increases charged to customers across all its divisions - set to see in the region of "mid to high teen percentage" rises.
READ MORE: 'Year of two halves' for Oven Pride maker McBride as it braces for huge profits hit
Despite this, the group said it is expecting to slump to an underlying loss of up to £10m in its first half.
It did not provide a further update on the full-year outlook, having already warned in September that profits could tumble by up to 65%.
A statement issued to the London Stock Exchange said: "Since providing the company's outlook for the current financial year on 9 September 2021, global supply chains have continued to tighten.
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"Raw material and packaging costs have moved faster and to a higher level than previously expected. In addition, the shortage of haulage capacity and higher fuel costs has continued to substantially inflate distribution costs - again ahead of the board's expectations - which show no sign of abating in the near term.
"As a result, the group has begun to seek a second round of substantial price increases from all its customers across all divisions, which, dependent upon specific mix, could result in a minimum of mid to high teen percentage increases.
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"The group's manufacturing facilities and logistics activities have operated well in the period and have shown strong resilience despite all these uncertainties and supply chain disruptions and have worked tirelessly to maintain the best possible customer service.
"It is pleasing to report that coronavirus restrictions at our Asia operations have recently been lifted and our new facility in Malaysia is ramping up production.
"As previously indicated, earnings for FY22 are expected to be weighted to the second half of the financial year, but now with the first half expected to deliver a loss of up to £10m at the EBITA level.
"Given the unpredictability of current global supply chain and ongoing uncertainty over input costs, the board is unable to update the full year outlook it provided in its preliminary results on 9 September 2021."